Interview with Costas Panayotakis, author and associate professor of sociology at New York City College of Technology, conducted by Scott Harris

European finance ministers agreed on Feb. 21 to a second bailout of the Greek economy, avoiding for now the threat of default, which many observers fear could trigger a crisis that would endanger the survival of the Eurozone. The so-called “troika,” made up of the European Central Bank, the European Commission and the International Monetary Fund negotiated a deal that will cut the principle on Greek bonds and lower the interest rate paid.